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Savings Account

HSBC Savings Account

Turn your savings into winnings.

Benefits

  • No fee for cash withdrawals and balance inquiry on non-HSBC UAE Switch ATMs1

  • Choice between AED, USD, EUR, GBP and RMB account currencies

  • 32 cheque deposit machines at key locations in the UAE without requiring a card and PIN

  • International Visa debit card

    Accepted at over 25 million outlets worldwide and giving you access to your accounts at over 1 million ATMs around the world.

  • Six over-the-counter transactions every month if done using AED with no charge

  • 24/7 banking through online banking, phone banking, mobile banking and SMS alerts

  • Access to 91 cash deposit machines around the UAE for instant credit into your account

  • Money transfer

    Transfer funds within the UAE and abroad in multiple currencies.

The benefits and features set out above are current as at the date they appear on our website. However, they may be subject to change at any time at our discretion.

We will try to notify existing customers of any changes that may impact them either in advance of the change or shortly afterwards.

Things you should know

An HSBC account comes with a debit card and monthly statements. Please refer to our Schedule of Services and Tariffs for a complete list of services along with any fees and charges associated with them. 

If you are a salaried customer and your salary is transferred to HSBC UAE, you will not be required to maintain a minimum balance or a relationship balance with us for any account that you open with us. If you stop transferring your salary to HSBC UAE, then a fee may be applied as per the Schedule of Services and Tariffs.

If you are a non-salary transfer customer, a lower cost option for you to consider is to have a personal banking proposition, and open a Flexi or E-saver account, as you will not be required to maintain a minimum balance in those accounts. If you choose a different proposition or open a different account type, then a fee may be applied for not maintaining a minimum balance as per the Schedule of Services and Tariffs.

We may request further information or documentation from you, in order to comply with the Foreign Account Tax Compliance Act (FATCA). 

Fixed interest rates per annum

 

Currency


Fixed interest rates
AED 0.001%
USD
0.001%

Fixed interest rates per annum

 

Currency

AED

Fixed interest rates
0.001%

 

Currency

USD

Fixed interest rates
0.001%

All Fixed interest rates quoted above are in Annual Equivalent Rates. This is a notional rate, which illustrates what the credit interest will be if interest were paid for a full calendar year. The interest will accrue for each calendar day in a month.

For Savings Accounts interest will be calculated based on your minimum monthly balance and paid into your savings account in January and July.

Interest on UAE Dirhams and United States Dollars are calculated on a 360 day basis.

Fixed Interest rates are subject to change from time to time at the sole discretion of the Bank. This change will automatically reflect on the Savings account. We will notify you of any changes to the Fixed interest rate before they happen in line with the Personal Banking Terms and Conditions.

Documents required to apply

Sole account

  • original passport (for all customers)
  • valid residence visa (for non-GCC national customers only)
  • original Emirates identification card (for all customers)
  • proof of UAE residence in the form of either a utility bill/ rental/ lease agreement/ title deed/ employment letter
  • original labour card/work ID (for female applicants on father's/husband's sponsorship)
  • original trade licence (for all self-employed customers)
  • for income transfer customers, original income transfer letter from the employer must be provided

Joint account

Both you and your joint applicant(s) need to complete the savings account opening process by personally visiting any of our branches or Customer Service Centres, with the following documents:

  • original passport (for all customers)
  • valid residence visa (for non-GCC national customers only)
  • original Emirates identification card (for all customers)
  • proof of UAE residence in the form of either a utility bill/ rental/ lease agreement/ title deed/ employment letter
  • original labour card/work ID (for female applicants on father's/husband's sponsorship)
  • original trade licence (for all self-employed customers)
  • for income transfer customers, original income transfer letter from the employer must be provided

Apply online

New to HSBC UAE

Instantly confirm your eligibility online and get an approval in principle.

Existing HSBC UAE Customers

Log on to online banking for the quickest and easiest way to apply.

Notes

1Only 2 cash withdrawals and 1 balance inquiry per month. Any additional withdrawals or balance inquiries may be subject to their applicable fees and charges.

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